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Stake DAOStake DAOby0xF4fD07eB3Dbd55C12FB75D0EBf5F6A2888f418410xF4fD…1841

SDIR#2: Whitelist Alchemix to lock $SDT

Voting ended almost 4 years agoSucceeded

Summary: We propose to whitelist Alchemix on Stake DAO to allow them to lock SDT and vote with veSDT.

Rationale: Alchemix has been an old friend of Stake DAO. Alchemix has supported the SDT/ETH pool for Stake DAO, and continues to support Stake DAO in the early days of our Liquid Lockers by providing advice and being the first DAO willing to build on top of our CRV locker..

The bonds between Alchemix and Stake DAO are now extremely strong, and it can only be good to strengthen them further. Today, Alchemix would like to lock their SDT on Stake DAO to be able to boost their voting power and vote for their pool on Curve. Furthermore, they are studying the possibility of creating a liquid representation of veSDT (alSDT for example).

What Alchemix is trying to achieve is exactly what we have designed those lockers for. Therefore, it sounds natural to grant one whitelisted address to Alchemix. NB: if this proposal passes, we will first whitelist Alchemix’s multisig, but if they want to change their whitelist for another contract (e.g. an alSDT contract), we could move the whitelist to this new contract.

Finally, to bootstrap their activities in our locker, they target to hold $1m SDT. They offered to buy 500k from the market and do a token swap for the remaining 500k. We therefore complete this proposal by the following one, for the purpose of this token swap, see SDGP#3

Means: Human resources: hardly any dev. time needed to make this possible Treasury resources: No treasury resources needed

Technical Implementation: Update the SDT smart wallet whitelist

Off-Chain Vote

Yes, whitelist Alchemix
682.48K veSDT98.2%
No, reject Alchemix whitelist
0 veSDT0%
Abstain
12.19K veSDT1.8%
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Discussion

Stake DAOSDIR#2: Whitelist Alchemix to lock $SDT

Timeline

May 09, 2022Proposal created
May 09, 2022Proposal vote started
May 12, 2022Proposal vote ended
Oct 26, 2023Proposal updated